OCBC Platinum MasterCard for Rewards

The OCBC Platinum Credit Card is made for those who want to make the most of their leisure time by giving them rewards when they spend on entertainment, dining, travelling, and a lot more. If you are an avid traveller, you can make use of the various travel offers this card gives you. For example, Expedia gives you a 10% discount when you use the card to book trips through it. Want to take your family out to watch a movie or two? Now you can get discounts when you charge your ticket purchases to this credit card. Treat your taste buds at various restaurants in Singapore and get discounts and other deals on your food bills. For example, you can get a return voucher worth S$10 at Pizza Hut when you dine there, and also get a discount of S$10 at The Manhattan Fish Market when you spend at least S$50. Entertainment spends include a 15% discount for minimum spends of S$50 at Katapult. The card also features many wellness and health-related privileges. For every dollar spent on medical expenses and insurance payments through this card, you get 1 OCBC$. Apart from this, you also get 1 OCBC$ for every S$1 you spend on all expenses charged to this card. You can accumulate the OCBC$ and exchange them for gifts.

Key Features & Benefits

Features

Description

Rewards points on all retail spends

1 OCBC$ for every S$1 spent

Complimentary travel insurance

N.A.

Additional Benefits

Add your card to your compatible smartwatch and link it with Apple Pay, Samsung Pay, Google Pay, Fitbit Pay, and Garmin Pay. You can enjoy exclusive deals and discounts on your retails transactions if you use any of these payment methods.

With this card, you can also enjoy a number of promotional offers on eating out, shopping, travel, and health screenings among others. Each promotional offer is subject to a validity period and individual terms and conditions.

Earn Rewards On Spending

Earn 1 OCBC$ for every S$1 that you spend on eligible transactions. The value of the OCBC$ you earn is calculated daily and rounded off to the closest whole number.

Also earn OCBC$ on the amount that you spend on EZ-link and Transitlink transactions for a particular month. This is applicable on a maximum monthly spend of S$200 in this category.

The points that you earn will expire within 2 years on the last calendar day of the month in which the points were awarded. For instance, if you earn points on 1 August 2018, then they will expire on 31 August 2018.

All points earned by the supplementary cardholder will be credited to the account of the principal cardholder.

Earned points for a particular month will be shown in your monthly statement.

You can also convert your reward points to KrisFlyer miles.

Calculate Rewards Points from OCBC Platinum Credit Card

Let’s say that you have charged S$1,300 to your OCBC Platinum Credit Card for the current month. Of this, you spent S$150 on eating out, S$230 on medical expenses, S$350 on groceries, S$240 on EZ-link and Transitlink transactions, and the remaining S$330 on retail transactions. In such a scenario, the reward points that you will earn are:

Spend category

Monthly spend

Points Earned

Equivalent Miles

Dining

S$150

150

Medical expenses

S$230

230

Grocery

S$350

350

Ezlink and Transitlink spends

S$240

200 (points earned on these transactions are capped at S$200)

Other retail spends

S$330

330

Total

S$1,300

1,260

504
(You need a minimum of 25,000 points to redeem them for a block of 10,000 KrisFlyer miles. Additionally, you will also need to pay S$25 as a conversion fee.)

Redeem your Earned Reward Points?

You can redeem the OCBC$ that you have earned by choosing from the rewards on OCBC’s rewards webpage. You can also redeem points via OCBC’s internet banking, mobile banking or phone banking services. Your points can be redeemed for KrisFlyer miles, dining deals, offers on fashion and accessories, and many more categories.

Once you select a reward that you would like to redeem your points for, your OCBC$ will be deducted immediately from your account. A voucher will be sent to your billing address within 7 working days.

Just present this voucher along with your OCBC credit card at the participating merchant to collect your reward. Only the principal cardholder can redeem the voucher. If you wish for the supplementary cardholder to redeem it instead, you will need to fill in the nomination form behind the rewards voucher.

This voucher is valid for 3 months unless mentioned otherwise.

OCBC Platinum Credit Card Interest Rate

Type of Interests

Charge

Retail Purchases

25.92% p.a.

Cash Advance

28.92% p.a. (minimum S$2.50)

Instalment Payment Plan

0% p.a.

OCBC Platinum Credit Card Fees & Charges

Type of Charges

Charge

Annual Fee

S$160.50 (waived for the first 2 years. Can be waived subsequently with a minimum annual spend of S$10,000)

Overseas Transaction Fee

OCBC administrative fee: 1.8% of the transaction amount

Mastercard conversion fee: 1% of the transaction amount

Late Payment Fee

S$100

Cash Advance Fee

6% of the amount withdrawn or S$15, whichever is higher

Supplementary Card Fee

S$80.25 (2-year fee waiver)

Eligibility Criteria

Thinking about getting this card? Make sure you are eligible for it first by checking the criteria for application here.

Activating the Card for Overseas Use

Activation:

If you want to use your card for overseas transactions, then you will have to activate the magnetic stripe on the card. You can do this by using OCBC’s Online Banking facility or by sending an SMS. Alternatively, you can also download and mail them the overseas use form.

Deactivation:

To deactivate the magnetic stripe for overseas use, you can either log into your online banking account, use OCBC’s SMS banking service or deactivate the stripe on OCBC’s website itself. Immediate deactivation is available via online banking and on OCBC’s website, while it will take 1 working day for the magnetic stripe on your card to be deactivated for overseas use if you use the SMS banking service.

Instalment Payment Plans

OCBC’s Instalment Payment Plan, PayLite, allows you to split any purchase of S$100 and above into monthly instalments.

Choose a tenure ranging from 3 months to 24 months.

The annual interest charged is 0%, however, a one-time processing fee starting at 3% is charged.

The 0% Instalment Payment Plan allows you to split bills of S$200 to S$500 into repayment periods of 6 months to 3 years. This plan is available at specific merchants as well as on a promotional basis.

Cash Withdrawn on Credit Card

The amount of cash you can withdraw as cash advance is up to 70% of the approved credit limit on your card.

You can withdraw a maximum of S$1,000 per transaction from an OCBC ATM, up to the cash advance limit. Per day, the maximum amount you can withdraw is S$20,000.

For ATMs overseas, the withdrawal limits may vary.

Card is Lost/Stolen

If you find that your credit card is lost or has been stolen, then notify OCBC immediately by calling their Customer Service Hotline or by informing the bank in writing. If the bank so requires, you may also need to file a report with the police and provide any other information that is asked for.

Once the bank is satisfied that you were in no way responsible for the loss of the card, your liability for any unauthorised transactions will be S$100.

When you have a credit card, how do you keep track of the promotions on it? With multiple deals updated every day, it is tough to remember which one to redeem when. Before you take your card out, check the latest credit card offers on our website to make sure you are taking advantage of the discounts.